Aerospace Actuators Market Growth Analysis Report (2023-2028)

Market Insights

"The global aerospace actuators market is estimated to grow at a healthy CAGR of 4.8% during the forecast period to reach US$ 13.4 billion in 2028."

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Introduction

An aircraft actuator is a device installed in an aircraft that transforms electrical signals into mechanical movement. Aircraft actuators can regulate velocity and engine speed by moving levers and flaps. Key functions of actuators include adjusting flight control surfaces (rudders, elevators, ailerons, flaps, slats, and spoilers), positioning the engine inlet guide vanes, extending & retracting the landing gear, and opening & closing the cargo or weapon bay doors.

Covid-19 Impact

The COVID-19 pandemic impacted the aerospace industry, compelling industry participants to restructure their strategies and prioritize survival. The aerospace actuators market could not escape and witnessed a decline of 12.8% in 2020. The market further declined in 2021, due to slow air travel recovery paired with the halt in deliveries of B787 aircraft.

The rapid recovery in air passenger travel, coupled with huge aircraft order backlogs, is helping the market recover from 2022 onwards.

Recent Market JVs and Acquisitions:

An inorganic growth strategy remains preferred. Several crucial M&As led to several changes in the competitive landscape.

• In 2022, Parker Hannifin Corp acquired Meggitt PLC for US$ 7.24 Billion. The acquisition further diversified Parker Hannifin Corp.’s presence in the market and expanded its portfolio of electromechanical actuators in the aerospace & defense markets.
• In 2019, Parker Hannifin Corp. acquired Lord Corporation for US$ 3.675 billion (approx.). The acquisition expanded Parker Hannifin Corp.’s portfolio of materials science capabilities, electrification, and aerospace product offerings that are highly complementary.

Segments Analysis

Platform Trends

"Commercial aircraft segment accounted for the largest and fastest-growing market share."

The aerospace actuators market is segmented into commercial aircraft, regional aircraft, general aviation, helicopters, defense, UAVs, and space. Commercial aircraft is expected to remain the market's largest and fastest-growing platform type during the forecast period. A rise in the production rates of various commercial aircraft and upcoming aircraft programs is anticipated to boost market demand in the coming years.

Actuator Trends

"The primary flight control actuators segment accounted for the largest market share."

The market is segmented into primary flight control actuators, secondary flight control actuators, landing gear, thrust reversers, engine control, utilities, seats, weapon release, missiles, and others. The primary flight control actuator is expected to remain the dominant actuator type in the market, followed by secondary flight control actuators during the forecast period, owing to the high focus on safer and lighter flight control systems and the usage of many actuators.

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Actuator Technology Trends

"Hydraulic segment accounted for the largest market share."

The market is segmented into hydraulic actuators, electric actuators, pneumatic actuators, and other actuators. Hydraulic is expected to remain the dominant actuator technology type in the market during the forecast period. Hydraulic actuators are easy to maintain and generate enough power to operate control surfaces with less weight & space. However, electric actuators are expected to replace conventional technologies due to their high efficiency, increased electric power, and precise level of control.

End-User Trends

"OE segment accounted for the largest market share."

The aerospace actuators market is segmented into OE and aftermarket based on the end-user type. OE is estimated to remain the larger end-user type until 2028. Aftermarket held a smaller share of the market in 2022. Aerospace actuators have a long life usually aligned with the life of aircraft.

Regional Insights

"North America accounted for the largest market share."

North America is anticipated to maintain its dominance in the aerospace actuators market. With one of the world’s largest fleets of both commercial and military aircraft, the USA is the market's growth engine. Most of the major players in the aerospace actuators market have their presence in the region to cater to the emergent needs of OEMs and be their partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs. Over the next five years, Asia-Pacific is expected to grow at the fastest rate in the market owing to rising demand for commercial aircraft to accommodate growing passenger traffic, rising defense spending in important economies, the opening of Boeing and Airbus assembly plants, and the coming of indigenous commercial aircraft.

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Key Players

The market is moderately concentrated, with the presence of some regional and global players. An inorganic growth strategy is preferred, especially by the leading players. Several crucial M&As led to several changes in the competitive landscape. The following are the key players in the aerospace flight control systems market:

• Collins Aerospace
• Moog Inc.
• Parker Hannifin Corp
• Woodward Inc.
• Liebherr Group
• TransDigm Group
• Triumph Group
• Curtiss-Wright Corporation
• Honeywell Aerospace
• Safran S.A.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace actuators market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 8 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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